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Business

Dunkin' Donuts.

Dunkin’ Donuts Opens This Week

Few people in Iceland have missed the fact that American doughnut giant Dunkin’ Donuts is about to open its first branch in the country. The news has been controversial and received extremely mixed reactions.

Money - Icelandic Króna

Bankers Enjoy Big Pay Rise

Tax figures for 2014 extrapolated by the business magazine Frjáls Verslun, owned by Iceland Review publisher Heimur hf, show that the average salary of the CEOs of Iceland’s 200 biggest companies is around ISK 2.6 million (EUR 17,580/USD 19,195) per month.

Icelandic Bottled Water “Not Tap Water”

“It is far from true that the water we put in bottles is tap water. Tap water has been through old pipes under the city. Our water comes straight from the spring and from there straight into bottles. Outside air first comes into contact with the water when the bottle is opened. The product we...

Ma Jun

China’s Richest Man Visits Iceland

Ma Yun, the owner of Alibaba e-commerce company, visited Iceland yesterday. According to Bloomberg’s Billionaires Index, Ma is the richest person in China and one of the richest individuals in the world.

Alcoa Fjarðaál aluminum smelting plant

Chinese to Fund New Smelter in Northwest Iceland

Icelandic company Klappir Development and China Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC) signed a declaration of intent on the building of an aluminum smelter in a planned industrial area at Hafursstaðir in Skagabyggð, Northwest Iceland, in Reykjavík on Tuesday.

Former chair of Kaupþing Sigurður Einarsson.

More Kaupþing Execs Jailed

Sigurður Einarsson, former chairman of Kaupþing Bank, has today been sentenced to one year in prison in the so-called 'big market manipulation case' at the Reykjavík district Court. Hreiðar Már Sigurðsson was also found guilty, but was not sentenced on top of the existing prison term he is...

gavel as used in courts

Defendants in SPRON Case Acquitted

The former CEO of the savings bank SPRON Guðmundur Örn Hauksson and former board members Ari Bergmann Einarsson, Margrét Guðmundsdóttir, Ásgeir Baldursson and Rannveig Rist were acquitted of charges of breach of trust in Reykjavík District Court this morning.

Björgólfur Thor Björgólfsson.

Landsbanki Shareholders to Sue Björgólfur Thor

A group of shareholders in the collapsed bank Landsbanki believe that they can prove how the bank’s former owner Björgólfur Thor Björgólfsson deceived them, causing financial damage to 25,000 shareholders. They have established an interest group to take Björgólfur to court.

Fishing boats

New Markets for Icelandic Mackerel?

Icelandic mackerel might soon be sold to Asia, according to the director of the seafood company VSV in Vestmannaeyjar (the Westman Islands) Sigurgeir Brynjar Kristgeirsson. “We search the world for new markets. We have primarily found them in Southeast Asia and sold mackerel to China and...

Landsbankinn

Call for Foreigners to Own Icelandic Banks

It would be beneficial to have at least one trusted foreign owner of an Icelandic bank, according to a prominent economics professor. Existing laws on ownership of financial companies should ensure that foreign ownership proved positive, whereas it is not a good idea for the pension funds to...

Glitnir

Claimants of Collapsed Banks Accept Terms

The claimants of the collapsed Icelandic banks have agreed to the conditions introduced by the government of Iceland in order to guarantee economic stability when the capital controls—which have been in place since the banking collapse in 2008—will be lifted.

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